Skip to main content

Instagram Deal

Instagram Deal, Weeks before he accepted a $1 billion offer from Facebook Inc, Instagram CEO Kevin Systrom had verbally agreed to sell his photo-sharing company to Twitter Inc for $525 million in March - but then called off the deal, according to a New York Times report citing unnamed sources.

Facebook CEO Mark Zuckerberg ultimately acquired Instagram after pushing through a cash-and-stock deal just weeks before Facebook's May initial public offering. The transaction closed in September at a $715 million valuation, reflecting Facebook's stock drop since the offering.

During negotiations with Instagram, Twitter executives had handed Systrom a term sheet outlining the details of the proposed deal, the Times reported, but Systrom later told California state regulators under oath that his company had not received any "formal offers or term sheets" from potential buyers aside from Facebook.

Relations between Twitter, Instagram and Facebook have soured since Facebook successfully swooped for the photo service. Earlier this month Instagram shut off a functionality that allowed Twitter to display Instagram pictures, while Twitter introduced its own photo color-filters to compete with Instagram.

A spokeswoman for Facebook declined comment. Twitter could not be immediately reached for comment.

Popular posts from this blog

Royal wedding more than 24.5 million UK viewers

Royal wedding more than 24.5 million UK viewers, Prince William and Kate Middleton's Royal Wedding was watched by more than 24 million terrestrial TV viewers in the UK, according to overnight estimates from industry body Barb. The BBC achieved a large share of the UK viewing figures for Friday's (April 29) ceremony, with a peak figure of 20 million tuning in to the corporation's broadcast of the Westminster Abbey service. More than 34 million people caught at least some of the Royal Wedding coverage through the BBC, including on its iPlayer service, reports BBC News. Sky News said it had a peak of 661,000 viewers at the start of the wedding ceremony, while BBC Two, Channel 4 and Five only made up 1 per cent of the audience as the nuptials began. William and Kate's service is now in the all-time top 10 programmes in the UK, but drew less viewers than the 1966 World Cup Final (32.3 million) and Princess Diana's funeral in 1997 (32.1 million).
Read more

Guinness World Records Most live streams for a single event

Guinness World Records Most live streams for a single event, The YouTube broadcast of Prince William’s marriage to Catherine Middleton (both UK) in London, UK, on 29 April 2011 achieved a record 72 million live views, as people from 188 countries around the world tuned in to watch the event on the company’s official Royal Channel. Although this figure alone was enough to beat the 70 million streams achieved during the inauguration of US President Barack Obama in 2009, the wedding’s overall tally is likely to have been significantly higher when taking into account the millions watching via other live streaming services.
Read more

Beautiful Ireland Introduction

Beautiful Ireland Introduction Beautiful Ireland Introduction  -  Ireland has always been considered a land of mystical and often magical happenings. It is a country steeped in myths and legends that live in harmony beside the modern world of today. Most travelers describe Ireland as a stunning land with unsurpassed beauty and one which possesses a history that goes back so far only the fairy folk remember its beginnings.
Read more